China Announces Retaliatory Tariffs On $60 Billion In U.S. Goods

China threatens tariffs on $60 billion in US goods

Trump, in a series of Twitter posts before an OH campaign rally, said he was using tariffs, and the threat of tariffs, to try to force other countries to renegotiate trade deals with the United States.

That move was in response to the Trump administration's proposal of a 25-percent tariff on $200 billion worth of Chinese imports.

China said on Friday that it would respond to threatened tariffs from the U.S. with countermeasures of its own, and released a list of approximately 5200 United States products worth a total of $US60 billion that would be affected by customs duties of between five and 25 per cent.

China has either imposed or proposed tariffs on $110 billion in US goods, representing the vast majority of its annual imports of American products.

"China has to take necessary countermeasures to defend its dignity and the interests of its people, free trade and the multilateral system".

The Trump administration has issued temporary emergency financial support of $12 billion to help farmers hard-hit by China's retaliatory tariffs such as soybean farmers.

"The White House's extreme pressure and blackmail are already clear to the worldwide community", said a state television commentary.

China immediately responded to the latest US tariff threat by publishing a list of $60 billion in USA imports it will lay tariffs on.

"Therefore its $200 billion tariff list is fairly inaccurate and irresponsible", said Liang Ming, director of the foreign trade research center at the Chinese Academy of International Trade and Economic Cooperation, affiliated with the Ministry of Commerce.

The latest tariffs come as the trade war continues to escalate and Mr Trump attempts to force Xi Jining's government to change its practices. So this unifies NAFTA and U.S., Europe, Australia, Japan.

On Friday, the Ministry of Commerce described its planned response: four different types of tariffs on $60 billion of USA goods. But nothing hit as hard and quickly as the rapidly escalating trade war with the U.S.

The trade war between the USA and China is about to get more intense, as China says it is preparing to impose retaliatory tariffs on $60 billion worth of goods made in the United States.

China proposed a 25% tariff on imports of copper ore and concentrate from the USA, which shipped about 70 000 tons to the country previous year. That covers more than two-thirds of the value of China's imports from the US, but it excludes products such as big aeroplanes and some computer chips, which China struggles to produce domestically.

"We have really rebuilt China, and it's time that we rebuild our own country now", Trump said Saturday during about an hour of free-wheeling remarks at a rally outside Columbus, Ohio.

The United States and China have the world's biggest trading relationship but official ties are increasingly strained over complaints that Beijing's technology development tactics hurt American companies.

China's exports are expected to have maintained solid growth in July despite the new tariffs on billions of dollars of shipments to the United States, though the outlook has darkened as both sides raised the stakes in the trade brawl.

Liang stressed that USA consumers would ultimately pay the price for Trump's irrational trade policies, pointing out that the United States imports its nitrosamines, an industrial raw material, from China.

A few minutes later, he tweeted again, writing, " Tariffs will make our country much richer than it is today.

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